Money is tight at the Recreation Vehicle Industry Association (RVIA) because of the industry slowdown, but RVIA President Dave Humphreys emphasized, “We’re not broke, we don’t need to call off important activities.”
Because fewer RVs were built during the past year and during the first half of this year, the RVIA sold fewer seals to its member manufacturers, so the association’s revenue was down $350,000 for the year ended June 30, Humphreys said during the RVIA’s recent Committee Week gathering in suburban Washington, D.C.
Additionally, the RVIA incurred $80,000 in unplanned expenses during its recently completed fiscal year, including $25,000 in extra annual meeting expenses because of the low turnout and fewer sponsorships, and $25,000 in extra lobbying expenses.
The RVIA Board also decided, after preparing the association’s budget, to donate $30,000 to the RV/MH Heritage Foundation Hall of Fame in Elkhart, Ind.
Despite those numbers, the RVIA is on solid financial ground because it had a $2 million budget surplus accumulated during the previous four fiscal years, and it earned $1 million in income from the investment of its financial reserves, Humphreys said.
Humphreys said he tells his staff, “If the question is about money, the answer is ‘No’.”